The Economic and Financial Crimes Commission (EFCC) has arrested some members of an alleged cyber-fraud syndicate with N326 million and $610,500 cash.

The commission said in a statement on Tuesday that the syndicate included the Kogi State House of Assembly candidate of the New Nigeria Peoples Party (NNPP), Ismaila Atumeyi.

Mr Atumeyi was arrested along with an alleged serial fraudster, Joshua Dominic, in a sting operation, at Macedonia Street, Queens Estate, Karsana, Gwarinpa, Abuja, on 30 October, the anti-graft agency’s statement stated.

The statement signed by EFCC’s spokesperson, Wilson Uwujaren, said Mr Atumeyi was arrested with the naira component of the funds and cash sum of $140,500.

It added that EFCC operatives recovered $470,000 from a former bank employee, Abdumalik Salau Femi, in Lagos on Tuesday.

The statement said Mr Femi, who allegedly supplied inside information that facilitated a cyber-attack on a bank by the syndicate, was picked up on Tuesday at Radisson Blu Hotel in Lagos.

After Mr Femi’s arrest, the EFCC said, a search warrant was “conducted on his home in Morgan Estate, Ojodu” where the money was said to have been recovered.

The recovery brought the total amount of dollar components of the money recovered from the syndicate to $610,000, so far, according to the press statement.

The commission said Mr Atumeyi is seeking to represent Ankpa 11 Constituency in the Kogi State House of Assembly.

“The arrest of the suspects followed months of investigation into the hacking of one of the commercial banks by a syndicate of fraudsters who pulled off a heist of N1.4 billion,” the statement read in part.